Daily brief
European Commission President Ursula von der Leyen has proposed a strategic energy corridor to bypass the Strait of Hormuz, aiming to reduce EU dependence on the critical chokepoint. The plan, which has reportedly fallen flat with some EU allies, comes amid ongoing efforts to diversify energy supplies. Separately, the EU is set to impose fresh sanctions targeting condensate imports from Russia's Yamal LNG.
A BYD executive has described the EU's electric car quota as 'crazy regulation', criticizing the bloc's approach to Chinese EV imports.
French President Emmanuel Macron has called for spreading the EU's Covid-era debt and for new joint borrowing to finance common projects.
The European Central Bank has partnered to launch a digital euro, stepping up its challenge to private payment providers like Visa and Mastercard.
The EU’s €90 billion loan to Ukraine may not be sufficient, according to the Wall Street Journal, amid ongoing war needs.